Toyota is increasing production capacity at its plant in Argentina that specialises in light trucks.
The company has held a commemorative ceremony at TASA’s Zarate plant in Buenos Aires attended by national and state government officials including President Cristina Fernández de Kirchner and Governor Daniel Sciolo. Also in attendance were TASA President Daniel Herrero and representatives from Toyota-related local affiliates.
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Toyota said that the increase in production capacity aims to meet strong demand for IMV (Innovative International Multi-purpose Vehicle) Project series vehicles in Latin America. Aimed at creating an optimal production and supply network on a global scale, the project consists of three pickup trucks, a minivan and an SUV.
Production capacity expansion of the Zarate Plant finished in November, with annual vehicle production capacity increased to 92,000 units from 65,000 units. The production increase represents an additional investment of approximately USD126m and the creation of approximately 650 new jobs at TASA.
TASA is TMC’s IMV series supply base for Latin America and has been producing the Hilux and Fortuner since 2005. Before the production capacity increase, approximately 70 percent of the 65,000 vehicles produced annually at TASA were exported to approximately 10 Latin American countries, primarily to Brazil. The production capacity increase will result in an increase of the export rate to 75 percent.
